We present a rest-frame UV-optical stacked spectrum representative of quiescent galaxies at $1.0 < z < 1.3$ with log$(M_*/rm{M_odot}) > 10.8$. The stack is constructed using VANDELS survey data, combined with new KMOS observations. We apply two independent full-spectral-fitting approaches, obtaining consistent stellar ages and metallicities. We measure a total metallicity, [Z/H] = $-0.13pm0.08$, and an iron abundance, [Fe/H] = $-0.18pm0.08$, representing falls of $sim0.3$ dex and $sim0.15$ dex respectively compared with the local Universe. We also measure the alpha enhancement via the magnesium abundance, obtaining [Mg/Fe] = 0.23$pm$0.12, consistent with similar-mass galaxies in the local Universe, indicating no evolution in the average alpha enhancement of log$(M_*/rm{M_odot}) sim 11$ quiescent galaxies over the last 8 Gyr. This suggests the very high alpha enhancements recently reported for several very bright $zsim1-2$ quiescent galaxies are due to their extreme masses, in accordance with the well-known downsizing trend, rather than being typical of the $zgtrsim1$ population. The metallicity evolution we observe with redshift (falling [Z/H], [Fe/H], but constant [Mg/Fe]) is consistent with recent studies. We recover a mean stellar age of $2.5^{+0.6}_{-0.4}$ Gyr, corresponding to a formation redshift, $z_rm{form} = 2.4^{+0.6}_{-0.3}$. Recent studies have obtained varying average formation redshifts for $zgtrsim1$ massive quiescent galaxies, and, as these studies report consistent metallicities, we identify different star-formation-history models as the most likely cause. Larger spectroscopic samples from upcoming ground-based instruments will provide precise constraints on ages and metallicities at $zgtrsim1$. Combining these with precise $z>2$ quiescent-galaxy stellar-mass functions from JWST will provide an independent test of formation redshifts from spectral fitting.